Explain some risks to the revenue and collection cycle that are the result of improper revenue collection.© BrainMass Inc. brainmass.com October 25, 2018, 9:08 am ad1c9bdddf
When improper revenue amounts are reported as income, the risks are that
1. Revenue is overstated (or even understated) and usually the result of a timing issue or cut-off problem.
2. Revenue ...
The solution provides a listing of seven types of problems or risks when revenue is improperly reported.
Risk in the Revenue and Collection Cycle
Risk in the Revenue and Collection Cycle: Design the internal controls for sales, accounts receivable, and cash receipts.
Study Level: Master in AccountingView Full Posting Details